Exit Strategy

Another question we are often asked is, “How is the market for a business like mine?” Usually our response to this questions is, “there are many more qualified buyers then there are “good businesses!” Which of course raises the question, “what are buyers looking for in a good business?” Here are a few things to keep in mind that help to answer this...

There is the old saying that the time to develop an exit strategy is the day you open for business. Sounds good, but it’s not very realistic. Further, it also isn’t very optimistic. On the day you open for business, thoughts about how you get out of it aren’t pleasant, or helpful, thoughts. However, as you get the business to a place where you have a bit of extra...

Covey’s 2nd habit of highly effective people is “Begin with the end in mind.” The ultimate “end” for business owners is their exit strategy. Economists project we’re at the beginning of the greatest transfer of wealth in history. Business leaders are supposed to be handing over the reins to their successors. Parents are...

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